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BRAZIL: President Lula Signs Supplementary Law Reinforcing Fiscal Framework

BRAZIL
BulletEM BulletEmerging Market News
  • "President Lula has signed into law a supplementary law that reinforces the fiscal framework, providing for the triggering of new spending freezes in the event of a worsening of public finances." (Estadao)
  • The text is part of the fiscal package proposed by the economic team and approved by Congress, and also provided for new rules for contingency and blocking of parliamentary amendments. This section, however, was vetoed by Lula at the suggestion of the Ministry of Planning, after the parliamentarians had relaxed the Executive's proposal.
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  • "President Lula has signed into law a supplementary law that reinforces the fiscal framework, providing for the triggering of new spending freezes in the event of a worsening of public finances." (Estadao)
  • The text is part of the fiscal package proposed by the economic team and approved by Congress, and also provided for new rules for contingency and blocking of parliamentary amendments. This section, however, was vetoed by Lula at the suggestion of the Ministry of Planning, after the parliamentarians had relaxed the Executive's proposal.